Obama Says Free Markets Never Work

Town Hall ^ | 12/11/11 | Peter Schiff

[Nachum]

For most of his time as a national political figure, Barack Obama has been careful to cloak his core socialist leanings behind a veil of pro-capitalist rhetoric. This makes strategic sense, as Americans still largely identify as pro-capitalist. However, based on his recent speech in Osawatomie, Kansas, the President appears to have reassessed the political landscape in advance of the 2012 elections. Based on the growth of the Occupy Wall Street movement, and the recent defeat of Republicans in special elections, he has perhaps sensed a surge of left-leaning sentiment; and, as a result, he finally dropped the pretense.

According to our President's new view of history, capitalism is a theory that has "never worked." He argues that its appeal can't be justified by results, but its popularity is based on Americans' preference for an economic ideology that "fits well on a bumper sticker." He feels that capitalism speaks to the flaws in the American DNA, those deeply rooted creation myths that elevate the achievements of individuals and cast unwarranted skepticism on the benefits of government. He argues that this pre-disposition has been exploited by the rich to popularize policies that benefit themselves at the expense of the poor and middle class.

But Obama's knowledge of history is limited to what is written on his teleprompter. And his selection of the same location that Teddy Roosevelt used to chart an abrupt departure into populist politics is deeply symbolic in the opposite way to that which he intended. It is not by some genetic fluke that Americans distrust government. It is an integral and essential part of our heritage. The United States was founded by people who distrusted government intensely and was subsequently settled, over successive generations, by people fleeing the ravages of government oppression. These Americans relied on capitalism

[jmacusa]

“January 20, 2013 can’t arrive soon enough.’’ Amen to that!

[indthkr]

"capitalism is a theory that has 'never worked.'"

Spoken by the guy who has never "worked" a real job in his entire life.

[Hoodat]

Obama now argues that government is needed once again to save the day. This view is complete fiction and proves that Obama is not qualified to teach elementary school civics, let alone serve as President of the United States.

Has Obama even taken a civics class at any point in his life?

[Hoosier-Daddy]

I think it more accurate to say that the Markets think Obama doesn’t work.